Streaming Platform fuboTV Receives New Funding

The live-streaming sports-first platform fuboTV has raised $75 million in new financing, with AMC Networks joining existing investors—including 21st Century Fox and Sky—in delivering a cash injection to the service.

In the Series D financing round, AMC Networks is joined by existing investors 21st Century Fox, Luminari Capital, Northzone, Sky and the former Scripps Networks Interactive (now part of Discovery, Inc.). With this new investment, the start-up has raised a total of $150 million. It plans to use the funds to invest in enhancing its engineering and product teams as it builts out its live sports streaming service.

“This latest capital raise underlines a seismic shift in viewing behavior as consumers migrate from traditional platforms to streaming television,” said David Gandler, fuboTV’s CEO and co-founder. “The pay-TV space is experiencing a renaissance, and the company will use this investment to continue to drive technological advancement in video quality and latency, machine learning and predictive analytics to deliver a best-in-class experience.”

The service provides local TV stations, regional sports networks and national channels, plus entertainment and news programming. It delivers more than 30,000 sporting events per year and has a VOD library of 10,000-plus TV shows and movies. The 70-channel bundle and on-demand library is available for $44.99 per month (the first month is $19.99). The platform surpassed the 100,000 paid subscriber mark in September of last year.